Circular No.ES/158/2017-18 September 19, 2017
To: Members of the Council
Sub.: Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
We wish to inform you that Reserve Bank of India (RBI) has issued Circular No. 04 dated September 15, 2017 regarding Export Data Processing and Monitoring System (EDPMS) and Issuance of Electronic Bank Realisation Certificate (eBRC).
As you may be aware, the EDPMS system was launched by RBI in March 2014 to monitor payments against Export Bill. It is a system where all export transactions are captured and followed up till their realization.
In this connection, your kind attention is invited to RBI provisions contained in the Master Direction No.16/2015-16 dated January 01, 2016 related to guidelines on the implementation and operationalisation of Export Data Processing and Monitoring System (EDPMS).
Subsequently, in May 2016, RBI had issued the provisions vide Circular No. 74 dated May 26, 2016 advising Authorised Dealer Category-I banks to carry out appropriate changes in their IT system / operating procedure immediately, report subsequent export transactions in EDPMS and also capture the details of advance remittances (including old outstanding inward remittances) received for exports in EDPMS.
RBI has now directed AD Category-I Banks to update the EDPMS with data of export proceeds on “as and when realised basis” and, with effect from October 16, 2017 generate Electronic Bank Realisation Certificate (eBRC) only from the data available in EDPMS, to ensure consistency of data in EDPMS and consolidated eBRC.
For any further clarification in the matter you may kindly refer the above Circular.
Members are requested to make a note of the above instructions issued by RBI.